First Interstate Bancorp’s board has adopted an...

First Interstate Bancorp’s board has adopted an anti-takeover plan that would give shareholders the right to purchase additional stock at half the market price in the event of a hostile takeover attempt. The company said in a statement that the plan was not adopted in response to any specific acquisition and that First Interstate is not aware of any attempt to acquire the Los Angeles-based banking company. Many major companies have adopted similar plans in recent years to make hostile takeovers more difficult and costly.